RE 2000-10-24.3A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 20001024.3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS, APPROVING THE BANK DEPOSITORY AGREEMENT AND DESIGNATING
FROST NATIONAL BANK AS THE CITY DEPOSITORY; ADOPTING THE
PROPOSAL ATTACHED HERETO AND MADE PART OF; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS
, the City has given notice and requested proposals from all the banks doing
business within the City for provision of the City's depository and banking services, and
WHEREAS
, applications were received, opened, and publicly accepted on October 2,
2000;
WHEREAS,
after review and consideration of the proposals received, it is the
determination of the City Council that Frost National Bank be designated as the City Depository.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COPPELL, TEXAS:
SECTION 1.
That the proposal for City depository and banking services submitted by Frost National
Bank be the agreement for City depository and banking services, and attached hereto and made a
part hereof for all purposes be and the same are hereby approved.
SECTION 2.
That Frost National Bank such bank shall be designated a Depository for the funds of the
City of Coppell, Texas, from and after the execution of the depository agreement and the
effective date set forth therein.
SECTION 3.
That the bank shall qualify as a Depository by providing security for the City's funds to
be deposited with the bank within five (5) days after the date of execution and return of the
resolution by the bank.
SECTION 4.
That the City Manager be and is hereby authorized and directed to deliver a copy of this
resolution. The bank shall, if it accepts the terms hereof, execute and return a tree copy of the
Depository Agreement to the City Manager within five (5) business days after receiving the
same.
SECTION 5.
That Frost National Bank shall be the City's Depository Bank for a five (5) year period
beginning December 1, 2000 and ending November 30, 2005.
DULY PASSED AND APPROVED by the City Council of the City of Coppell, Texas
on the 24th day of October, 2000.
APPROVED:
CANDY SHEEHAN, MAYOR
ATTEST:
LIBBY BALL, CITY SECRETARY
APPROV 'O FORM:
ROBERT E. HAGER, CITY ATTORNEY